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GAME Sees 54% Revenue Surge, Plans Used Game Push

European specialty retailer GAME has announced sales up 54% for the first half of 2008, with "unprecedented" hardware/software growth from titles like GTA IV and Wii Fit - and plans to promote used game sales to help weather any economic dow
In advance of its annual general meeting, European specialty retailer GAME has announced sales up 54% for the first half of 2008, as "unprecedented" game hardware and software growth also leads to further store expansion. The board cited hardware selling at an unprecedented rate, as well as an "unusually strong [game] release schedule" with titles such as GTA IV, Wii Fit, Mario Kart Wii and Metal Gear Solid 4 boosting revenues. The company intends to continue its expansion and grow its existing portfolio of 1,229 stores - with up to 60 new locations planned for the Christmas trading period, many in Continental Europe. Interestingly, the company specifically cited the sale of used games as a promotional priority for its retail stores, given any possible slowdown in the European economy. Specifically, GAME's trading statement noted: "Whilst sales are driven mostly by demand for consoles and the quality of new software releases, we recognise the challenges of the wider economic environment. In response, we will work hard on delivering competitive consumer offers and promoting the value associated with our successful preowned offer." In addition, the UK headquartered firm announced the appointment of Google UK, Ireland and Benelux managing director Dennis Woodside to its board as a non-executive director. Woodside intends to use his experience with online retailing to help further develop the company's online business.

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